Alibaba cloud computing arm to help foreign tech firms enter China
- Wall St. gains across sectors ahead of Trump inauguration
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Herbalife (HLF) Says SEC Requested Documents on Anti-Corruption Compliance in China; Reviewed with DoJ
- Investment Focus: History suggests Trump month will be stocks down, dollar up
A sign of Alibaba Group is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song/File Photo
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
HONG KONG (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd is offering to help international technology firms such as SAP SE to enter China, a market where foreign tech companies face increased government scrutiny.
Alibaba Cloud, the cloud computing arm of Alibaba Group, said in a statement on Tuesday it aims to assist technology firms overcoming business obstacles in China. It said it's offering foreign firms joint ventures and partnerships through its cloud computing programs.
The company said its AliLaunch program has signed up 11 partners including German software maker SAP, Hitachi Data Systems - a unit of Japanese industrial group Hitachi Ltd - and AppScale Systems Inc of the United States.
The move came at a time when China is becoming increasingly wary of foreign technology and authorities are openly pushing for the use of more Chinese and less foreign-made technology.
(Reporting by Yimou Lee; Editing by Kenneth Maxwell)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fed should mull end of balance sheet reinvestment: Fed's Harker
- LPC: Insatiable demand for floating rate assets cuts borrowing costs
- ECB probed by watchdog over ties with bankers in G30 group
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!